Read more about Hindustan Tin Works standalone net profit rises 216.38% in the December 2020 quarter on Business Standard. Sales rise 37.65% to Rs 92.53 crore
Tin plate supply to create metal packaging obstacle The Rs 10,000 crore metal packaging industry in India has encountered a roadblock. According to a press release issued by The Metal Containers Manufacturers Association of India, global players and suppliers of tinplate / tin free steel have ceased their supply to India due to the imposition of BIS standards. Sanjay Bhatia, president of the Metal Container Manufacturers Association
WhatPackaging? readers will recall how in order to ensure use of prime tinplate for food products, the MCMA had recommended to the Steel Ministry to consider ISO along with BIS standards for sourcing raw material. Read the full story here.
From ICRA Hindustan Tin Works announced that ICRA has reaffirmed as the long term rating at [ICRA]BBB+ (pronounced ICRA triple B plus) and short term rating at [ICRA]A2 (pronounced ICRA A two). The outlook on the long-term rating has been revised to Stable from Negative.
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Metal-container makers want ISO standards to be considered along with BIS. The Metal Container Manufacturers’ Association recommends the Quality Control Order which was issued in July be dropped since it will impact the metal packaging industry. Sanjay Bhatia, the president of the Metal Container Manufacturers Association seeks Government support and requests delay of Steel Ministry BIS mandate
The Metal Container Manufacturers’ Association (MCMA) has requested the Steel Ministry to delay the implementation of the BIS norms - and postpone its implementation till 31 March 2022. Also, they have requested the ministry to consider ISO certification in addition to BIS for sourcing raw materials.